Weekly Large Trader COT Report: Gold
Gold speculative positions rose last week to +86,819 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders boosted their gold bullish positions higher for a third consecutive week last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, totaled a net position of +86,819 contracts in the data reported through October 6th. This was a weekly change of +10,174 contracts from the previous week’s total of +76,645 net contracts that was registered on September 29th.
The gain in the weekly net speculator positions (+10,174 net contracts) was due to a rise in the weekly bullish positions by 8,208 contracts that combined with a fall in the weekly bearish positions by -1,966 contracts.
Gold Commercial Positions:
In the commercial positions for gold on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) increased their overall bearish positions for a third week to a net total position of -88,469 contracts through October 6th. This was a weekly change of -15,326 contracts from the total net position of -73,143 contracts on September 29th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday September 29th to Tuesday October 6th, the price of the (N:GLD) Gold ETF, which tracks the gold spot price, advanced from approximately $107.98 to $109.86, according to ETF price data of the SPDR Gold Trust ETF (GLD).
*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).
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